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Payments General

RBS secures 25 percent stake in digital current account Loot

Tuesday 8 January 2019 | 01:37 PM CET

The Royal Bank of Scotland’s (RBS) new digital-only retail bank Bó has invested GBP 2 million in the digital current account Loot – taking its total stake to 25%.

This follows an initial investment of GBP 3 million in July 2018 by Bó. This bank is being developed by NatWest – part of RBS.

Loot launched in 2014 to help students and young people manage their finances and says it now has more than 175,000 sign-ups. All verified customers are provided with a prepaid debit card and offered personal insights into spending patterns.

Bó is currently in private beta testing, with a view to launch in 2019.

More: Link
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